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TMI BlogIndia, EU set year-end deadline for mega FTA, decide to shore up defence cooperationX X X X Extracts X X X X X X X X Extracts X X X X ..... India, EU set year-end deadline for mega FTA, decide to shore up defence cooperation X X X X Extracts X X X X X X X X Extracts X X X X ..... e allies Japan and South Korea. The deadline for concluding the trade deal that would be the largest of its kind globally came over 17 years after the two sides first began negotiations for it. The talks for the pact was relaunched in June 2022 after they were suspended in 2013. The visit to India by the EU Commission chief, accompanied by the College of Commissioners or senior political leaders of the bloc's member nations, came days after Trump threatened the bloc with 25 per cent tariffs. A senior official of the EU said besides the Free Trade Agreement (FTA), the two sides are also eyeing to conclude negotiations for an Investment Protection agreement and a pact on Geographical Indications (GIs). In his media statement, Modi said ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny decisions were taken to "elevate and accelerate" India-EU partnership and that almost 20 ministerial meetings of different sectors took place in the last two days. "This two-decade long strategic partnership between India and EU is natural and organic. Its core is built on trust, a shared belief in democratic values, and a mutual commitment to prosperity and shared progress," he said. The prime minister said a bold and ambitious roadmap has been prepared for the India-EU partnership for the period beyond 2025. "It will be launched during the next India-EU summit," he said. "We have prepared a blueprint for collaboration in the areas of trade, technology, investment, innovation, green growth, security, skilling and mobility," he said. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "We have directed our teams to conclude a mutually beneficial bilateral free trade agreement by the end of this year," Modi said. To strengthen the investment framework, there has also been talk of moving forward on Investment Protection and GI agreement, he added. Echoing the prime minister, Von der Leyen said: "We have tasked our teams to build on this momentum and finalise our free trade agreement before the end of this year." "We are expecting a lot of our trade negotiators, we told them they should surprise us," she said. The EU official cited above said there were discussions on tariffs on cars, wines and spirits and the bloc is ready to address certain "requests" by the Indian side. The negotiations for the deal were not movin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g forward ostensibly in view of the EU's persistent demands to New Delhi cut tariffs on cars, wine and agricultural products. Modi posted on X that India-EU "close collaboration is shaping a better future for our planet. Together, we will work towards a prosperous world." In his media statement, the prime minister described the growing India-EU cooperation on defence and security as a symbol of "mutual trust" and that both sides will take forward the engagement in areas of cyber security, maritime security and counter-terrorism. A joint leaders' statement said the two leaders reaffirmed their commitment to promote a free, open, peaceful and prosperous Indo-Pacific built on international law and mutual respect for sovereignty and peaceful ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resolution of disputes. It said both sides also committed to explore trilateral cooperation including in Africa and the Indo-Pacific. "Both sides agree on the importance of peace, security, stability and prosperity in the Indo-Pacific region, " he said, welcoming the EU's decision to join the India-backed 'Indo Pacific Oceans Initiative'. "We will work together on triangular development projects for sustainable and inclusive development in the Indo-Pacific region and Africa," Modi said. Ahead of her talks with Modi, Von der Leyen said at a think-tank that the EU and India have the potential to be one of the defining partnerships of this century. "I want this visit to be the start of this new era. Prime Minister Modi and I share the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me view. It is time to take our EU-India Strategic Partnership to the next level," she said. Von der Leyen argued that now is the time to step up India-EU security and defence cooperation on land, sea and in space. The European Commission chief called the Indian Ocean as a "lifeline for global trade" and said ensuring its security is vital, not just for India but for the whole world. "We should also explore expanding our joint naval exercises, building on our very successful operations in the Gulf of Guinea and the Red Sea," she said. Finally, we should deepen cooperation in protecting the cables that ensure data connectivity between India and the European Union, she said. In his remarks, Modi welcomed the "new visa cascade" regime of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the EU saying it will provide better mobility to the abilities of India's talented youth. On connectivity, Modi said concrete steps will be taken to take forward the India-Middle East-Europe Economic Corridor (IMEEC). "I firmly believe that "IMEEC" shall serve as an engine that drives global commerce, sustainable growth and prosperity in the days to come." The prime minister said India-EU joint research shall be undertaken on EV batteries, marine plastics and green hydrogen. The two sides also resolved to significantly shore up cooperation in sectors such as semiconductors, artificial intelligence, 6G, clean energy and digital public infrastructure (DPI). The leaders' statement both said Modi and Von der Leyen expressed confidence that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this "momentous visit" will mark the beginning of a new chapter in the history of India-EU relations.
"They looked forward to the next India-EU Summit being organized in India at the earliest mutually convenient time and to the adoption of a new joint strategic agenda on that occasion," it noted. PTI MPB ZMN X X X X Extracts X X X X X X X X Extracts X X X X
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